Here they share a tip on the WCB Employer's Payroll Statement and what it means to your business:
Did you know as an employer you are responsible for the accurate reporting of your past years payroll amounts and the estimation of this years amounts to WCB?
It is very important to report your payroll amounts to Saskatchewan Workers' Compensation Board on time each year.
For ease the WCB sends out the Employer's Payroll Statement with detailed instructions each year.
It is important your payroll reporting is done accurately as this makes up part of your premiums for the year. You are only to declare for work completed in Saskatchewan.
Another important part to this reporting is declaring the contractors that you used and did not contact WCB to get a clearance letter for before you paid them.
This portion applies to all businesses in any industry who have hired a person or business to perform work or services on a contract basis.
If you paid a subcontractor for a service and did not call WCB to get a clearance letter first you may have a levy applied to your account.
How do I ensure my business does not pay more?
Make it a practice to always contact WCB for a clearance letter or a letter of good standing before you pay a contractor.
Ensure your Employer's Payroll Statement is filed on time.
Make sure your payments to WCB are made on time.
All of these items will help you ensure you stay in good standing with Saskatchewan Workers' Compensation Board.
The Employer's Payroll Statement Return Deadline is February 28, 2014! Need help with yours?